The Biggest Auction Ever: the Sale of the British 3G Telecom Licences

Ken Binmore and Paul Klemperer
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Ken Binmore: University College London

Economic Journal, 2002, vol. 112, issue 478, C74-C96

Abstract: This paper reviews the part played by economists in organising the British third-generation mobile-phone licence auction that concluded on 27 April 2000. It raised £22½ billion ($34 billion or 2½% of GNP) and was widely described at the time as the biggest auction ever. We discuss the merits of auctions versus "beauty contests”, the aims of the auction, the problems we faced, the auction designs we considered, and the mistakes that were made. Copyright Royal Economic Society 2002.

Date: 2002
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Working Paper: The Biggest Auction Ever: The Sale of the British 3G Telecom Licences (2002)
Working Paper: The Biggest Auction Ever: the Sale of the British 3G Telecom Licenses (2001)
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